Stephens analyst Matt Breese raised the firm’s price target on Provident Bancorp (PVBC) to $12 from $11 and keeps an Equal Weight rating on the shares. The bank reported Q3 operating EPS of 4c, below the firm’s 7c estimate, driven by a higher-than-anticipated provision, notes the analyst. The firm continues to see new management working through legacy issues and forecasts below average profitability, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PVBC: